Topic: Knowledge Of Bitcoin Is Better Than Speculating (Read 214 times)

Bitcoin speculation is very important for traders to enable them have a market strategy to make profit,if you don't have this knowledge as a trader or investor, you might end up selling at a loss. No knowledge is not important since investing in bitcoin can yield profit along the long run. Speculation is also learning because you will be using past events and present events in bitcoin movement for conclusion.

You can be learning a skill on bitcoin like programming and at the same time learning speculation since it isn't something too stressful because it is good you have a knowledge of the price movement of your investment. Bitcoin and stock are similar because there volatile nature is based on demand and supply.

Your two arguments are correct. It can be both if that's what the individual wants. We shouldn't be boxed to choose one of the others. They both can exist together. Based on my goals and aspirations , I want to acquire as much knowledge as I can about Bitcoin thereby learning a valuable skill in the process. I also want to learn about speculation. There's no harm in it. There's so much to gain from it.

I agree with most of the skills you have mentioned. They can be applied to various sectors or industries. Knowledge of Bitcoin can help you acquire cyber security skills, and data analysis or data science skills, you could learn excellent communication skills and become a Bitcoin educator. The list is endless.

One such skill is programming, as blockchain technology is built on a foundation of code. Developing the ability to program can not only help you understand how cryptocurrencies work, but it can also open up new career opportunities in the tech industry. Another skill is financial analysis and risk management, as the price fluctuations of cryptocurrencies can be incredibly volatile. Learning how to read charts, analyze market trends, and mitigate risk can be valuable not just for cryptocurrency investing, but for traditional stock and bond investing as well.

Bitcoin was not primarily intended as an investment but has become an investment over time.
In fact, if you trades with bitcoin, then you quickly understand that it is a very risky investment and that it requires a lot of knowledge and experience about the crypto market, analysis etc.
However, unlike shares, you can earn bitcoin in other ways, with your specific work, and that is one big difference.
Especially in the beginning of bitcoin, it was very easy to get a large amount of bitcoin, deposit it in a wallet and wait for the increase in value.
It's much harder now, but bitcoin can still be earned through various businesses and held as an investment.
Crypto trading is not for everyone because it requires many skills and knowledge that cannot be acquired overnight.

Are you for real? So, what's investment from your perspective? A thing that doesn't increase or decrease in price and value? Well, I don't know what you intended to drive at with that narrative of yours. Bitcoin, just like stocks and other forms of investments, are subject to increase and decrease.

I suggest you get books dealing on two things – Technical and Fundamental Analysis. Read them to understand the basic set skills if you intend to trade them and half of the confusion around price speculation would've been taken care of.

Of course, having knowledge of bitcoin is necessary especially when someone is planning to invest with a long-term target. Speculating is only for those that are actively trading bitcoin. But most traders are not just speculating but are also knowledgeable about bitcoin. Otherwise, it is like trading a highly volatile pump-and-dump altcoin which is only based on hype and speculations. Although I have to admit that in the past I also traded altcoins based only on their technicals and speculations as long their trading volume is high.

I did not catch your point, about why we should not regard them as an investment because the ups and downs of crypto prices are what enduring it and encourage investors to invest their money.
Because decreases and increments of prices provide opportunities of taking enter and exit with profits or maybe losses sometimes. I think you are trying to say, not investment but holding. Right? If yes then holding has its pros and doing it is one of the great planes.

No doubt BTC and blockchain are not all about finance and making money out of it no wonder how you do it like many try to follow good methods but most follow bad methods to start earning out of blockchain's use in Finance and that is harmful to cause of BTC and blockchain's future security. Well, that's another discussion.

You can learn about what difficulties BTC and blockchain are facing and how we can circumvent them. You can make innovations if you're a developer if not then still ideas need no education.

You can find ways to legalize it in those countries where it is a ban and overall if you see use cases then blockchain crypto has broad uses and many of them are already in the field like usage for the agriculture sector, energy production, and energy transportation sector, supply chain management sector, Gaming ( like making games to play in metaverse), Entertainment sector, etc

The list of blockchain usage for each domain is long, the query is to which skill you should learn, that needs clarification of the problems that a domain facing and how blockchain can cover it and how can you learn it but first you must have manually confirmed if there is any money in that domain and what's the scope there.

You do have a very vital point stated above and I agree with you, because it can only take someone who is knowledgeable about how Bitcoin works to know that stocks is not worth to be compared with Bitcoin, both in terms of price value and individual dependency, becaus just as stocks are been control by individual companies (I.e Apple, Tesla & Netflix), Bitcoin on the other hand is an independent digital currency, not control by any agency, central bank nor the government.

And by learning about cryptocurrency, some basic skills you can acquire include, Cryptocurrency trading, NFTs, creation of smart contracts, Data analysis and Development of Decentralized finance "Defi"

Where did you get your piece of information? The stock market and crypto market are not safe from volatility, they drop in price and they spike up im price too, that alone makes them similar, one is just risky than the others, I believe that Crypto is far more volatile than Stock but the risk is still present in both.

Not everybody here is in for the long term as such you can't stop people from just participating in the market through speculation. Infact it's even healthier for the market that way as it keeps it alive and active. You're contradicting yourself here buddy, if you ask for us not to treat Bitcoin or cryptocurrency as investment then why are you against them just speculating in the market, atleast those speculating are just traders and not investors. The skills you speak about acquiring, you think you can do that for free, obviously you'll need funds to make that possible and to get that funds is the reason behind many speculators of the market.

People are mainly here to make money, you think if 90% of the investors in the industry were comfortable with their life that they would have found about the industry or even showed interest in it?. It takes only a few that understand the benefits of Bitcoin to invest in it while still been having a very comfortable life. I understand the point you're trying to make a d it's valid but being a speculator of the market isn't bad either providing you're making money from your market speculations.

That's actually kind of make sense. People should know that bitcoin and crypto is not all about trading and investing their money in the project but also investing time and energy to gain more skills about the technology. With this mindset, we can actually gain more. In addition to gaining knowledge about blockchain, game theory, security, cryptography, and consensus algorithms, learning about bitcoin and other cryptocurrencies can also help individuals acquire valuable skills in programming, data analysis, and financial analysis. They can also learn about the legal and regulatory aspects of cryptocurrencies, which can be helpful in pursuing a career in the financial or legal sector. Additionally, learning about cryptocurrencies can help individuals develop skills in entrepreneurship and innovation, as they can explore the possibilities of creating their own cryptocurrency or blockchain-based business. Overall, the skills one can acquire by learning about bitcoin and other cryptocurrencies are vast and varied, and can lead to exciting and rewarding career opportunities.

Value investing is their thing, right? Business people in general won't be too interested in technical matters, so there is nothing wrong with speculation. After all, when you compare two things that are not contradictory, speculation also requires knowledge of some broader fundamental aspects. One isn't advised to invest without basic knowledge of the asset the investment is intended for.

It becomes an option for some people, who want to continue speculating or want to learn more about bitcoin knowledge. Speculation about the price of bitcoin is not wrong if you also do it for long term investment, because we all know bitcoin will be good for long term investment. People are free to speculate with their own analysis. But if someone equates bitcoin investment with stocks, bonds and other investments that is of course not the same as bitcoin. Bitcoin fluctuates, volatility is very high, it will be risky for people who don't understand about it.
Some of the valuable skills to be gained from learning bitcoin is becoming a Bitcoin developer, if you are serious about it you can take lots of classes that learn how bitcoin works and learn about blockchain technology. Becoming a bitcoin expert will have many advantages, not just speculating, you too can contribute a lot to bitcoin

One thing about bitcoin is that no matter how knowledgeable you are with the chart and other things of Bitcoin you would still end up speculating. No one knows the exact movement of Bitcoin.
What we could actually know and understand is that bitcoin is cyclical and when we watch a given cycle, we will predict when that cycle will end and when another will start and that is the basis of speculation
You will only avoid speculation if you learn related skills of Bitcoin that doesn't have to do with investing or trading Bitcoin. Because if you are involved with bitcoin volatility, you must surely speculate whether knowingly or unknowingly.

You can't still stop people not to speculate about bitcoin hence before one could eventually speculate let say they already hold Bitcoin. They can't keep learning what they are not practicing because less attention could be assigned to it, apparently educating oneself with the knowledge of bitcoin could be more better than channeling their efforts or what may comes out of their investment; Originally Bitcoin was created as an alternative means of payment and its purpose has been achieve.

Rationally I would prefer the idea that learning is better than expecting. But when I am an ordinary person in a small group, it is your intuition that will guide you. Personally, I believe that risk is part of the bet.
When facing some obstacles or difficulties, the degrees of difficulties may reach their lowest levels. Keep an open mind and flexibility, and be ready to try new things and give up methods that did not work, and to settle your resolve in advance that you will not despair of trying.

Even if you are knowledgeable bitcoin guy still it doesn't give you an assurance to gain always with bitcoin if you talk about trading this. Since somehow on your trades you speculate that your entry will be nice and you can get a profit with it, the only advantage about that is you have knowledge and know about the possibilities which can give you a hint to take action. But to add up some skills which is important to have is try to check always the chart before trading since this will help enhance your skills in trading.

Bitcoin is not an investment by definition, because an investment is something that generates income. Like real estate that you can put up for rent, dividends of stocks, yield from bonds. Bitcoin and gold, collectibles and commodities are speculative assets that generate profits through price fluctuations. This doesn't make them worse than investments, it's just a different mechanism.

Some people are good at speculation, but most are not. You can easily get burned trying to trade Bitcoin, especially with leverage. Holding for years is a safer strategy. But learning about Bitcoin and surrounding technologies is not a great idea. It's not a high demand skill set. If you want to spend time learning, better to learn something that is already established and will be relevant in 10+ years. Like programming, AI, automation, data science.

Bitcoin is a good investment, it offers everyone the chance to gain big profits. We can understand very well if there are many people who prefer to view it as digital gold than a digital currency. There are still many countries that don't legalize it as a digital currency. People have many limitations to use it as a digital currency. While for investment (digital gold), people know it has a big potential to earn money. Since it is easy to invest in Bitcoin, people want to spend their money on Bitcoin. But investing in Bitcoin is as easy as people think, it requires sufficient knowledge.

If a person is serious about learning Bitcoin, he will acquire the technical skills like:
programming,
data analysis,
engineering,
cryptography

and social and management skills like:
Collaboration
Creativity
Communication

Honestly, learning Bitcoin isn't only about investment and trading.  There are lots of cryptocurrency careers that is available in the industry.  Being serious about learning Bitcoin and cryptocurrency will enable us to realize that acquiring these skills will offer much richer varieties of a path to take advantage of the Bitcoin industry.

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reference:
https://chrono.tech/blog/top-10-skills-needed-for-crypto-jobs

Each type of investment has its similarities and differences, and it is important to recognize that bitcoin and other cryptocurrencies are not the same as traditional investments like stocks and bonds. Even investing in bitcoin has big differences compared to other cryptocurrencies. While some may see parallels between these types of investments, we must understand that cryptocurrencies operate in a different way.

But, as you mentioned, investing time and energy into learning about the technology behind cryptocurrencies can be a wise long-term strategy. It is easy to get caught up in the hype of short-term gains, but focusing on education and knowledge is a more sustainable and profitable approach. Therefore, I encourage everyone to continue learning and stay informed about the latest developments in this world.

Well to be honest investing in stock has some similarities with investing in Bitcoin and Crypto-currency because both don’t have a fixed price, the market is volatile and if you don’t make calculated investment you may get ruined.

Also don’t complicate learning of bitcoin and crypto-currency, it’s not as difficult or expensive as you are making it, if you are dedicated and consistently ready I believe you would be fine.

To some point, I will agree with those that compare Bitcoin and the stock market. 

Stocks, which in turn are company shares, have a price that is calculated, or should I say determined, by how much people want them, which is to say, the higher the demand, the higher the stock price. That's the fundamental law of economics. 
To some point, these laws apply to bitcoin and how it's priced. 
The different between both are: 
The stock market is majorly controlled between company share holder's but Bitcoin price can't be controlled even by the so called Wales and miners. They can just to some point shake the price buy selling huge amount and causing a little panic in the market which will not last long. 


You can also, in turn, invest by learning and studying the Bitcoin market. No amount of time or energy invested in studying Bitcoin can give anyone the actual price or the right time to invest; rather, it will only reduce the losses that can be incurred to the minimum.

Investment is a choice. When you have the right source of information and you convince yourself enough, you can forge ahead and buy some SATs and call it an investment. 

The rise and fall in the price within a short space of time is the reason it is regarded as an investment. Investors speculate on the volatility and either go long or short on it.

The other aspect of building skills is a different aspect and one that only a little percentage of the total people into bitcoin delve into. Interest in bitcoin does not translate to ability to acquire high tech skills.

- Jay -

Seeing bitcoin as an investment is not bad idea and its even a good thing. Everyone has a view on bitcoin. Some regard it basically as an alternative to digital gold rather than a payment network and this group if individuals can see it as an investment, Some others regard it primarily as an economic freedom because they have full control of their money

I cringe whenever people say that investing in bitcoin is similar to stocks, bonds etc. They are absolutely two different kettles of fish and should be treated as such.  And because of the rate at which the prices of bitcoin and other cryptocurrencies increase or decrease in a particular time, it is better not to regard them as investment.  Rather than spend your time speculating about bitcoin and cryptocurrencies, you could actually spend that time investing in education and knowledge about bitcoin and the technologies around cryptocurrencies. A long-term payoff that is way better than speculation would be to spend your time learning about bitcoin and other cryptocurrencies one can acquire transferable and highly valuable skills in blockchain, game theory, security, cryptography, consensus algorithms that will remain relevant in for many years.

Kindly suggest some other valuable skills one can acquire by learning about bitcoin and other cryptocurrencies?